The International Monetary Fund has lowered its oil price forecasts to $100.09/barrel in 2013 and $95.36/b in 2014. In April, the IMF forecast that oil prices would average $102.60/b this year and fall back to $97.58/b in 2014.
However, in an update to its World Economic Outlook, the IMF said on Tuesday that global growth was set to remain subdued at slightly above 3%, the same as in 2012. "This is less than forecast in the April 2013 World Economic Outlook (WEO), driven to a large extent by appreciably weaker domestic demand and slower growth in several key emerging market economies, as well as by a more protracted recession in the euro area," the IMF said...............................................Full Article: Source